I Hate Chexsystems - How to Get Unstuck from the Chexsystems Trap

I Hate Chexsystems - How to Get Unstuck from the Chexsystems Trap

Easily making it through each week, month, and year can be a challenge for most of us - any way you slice it. Let's face it: navigating all of life's challenges is not always a piece of cake. While some parts of life (such as maintaining our relationships and earning a paycheck) will always be a challenge, some things just shouldn't be so complicated. One of those is getting approved for a new checking account. However, getting a new checking account continues to be a difficult thing to accomplish for many, many people.

Why should this be? After all, banking should be easy, right? You should be able to find a bank, deposit your paycheck, and then pay your bills or withdraw cash as needed. Why would a bank ever keep you from opening a new account? There is one simple answer to this question: Chexsystems.

What is Chexsystems?

Chexsystems is a database that banks use to share information with each other about "problem individuals." Of course, their definition of "problem individual" might be very different than yours. Basically, if you have ever committed check fraud, failed to pay back your bank after they have covered your overdraft charge, or in some other way represented a banking risk, your name goes on the Chexsystems list. And, once your name is there, it is nearly impossible to get it removed.

People who have been rejected for a new bank account due to Chexsystems will often tell you that they hate Chexsystems.

If you have said to yourself more than once, "I hate Chexsystems," here are 3 steps toward getting yourself unstuck from the Chexsystems trap.

1. Decide whether it is worth your time for you to find the right bank: Some people do not mind putting up with difficult situations, month in and month out. It is up to you to decide whether you can put up with your current (lack of) banking situation any longer or whether you are really ready to make a change now.

2. Consider your options for getting a new checking account: If you really want a checking account but your name appears in Chexsystems, your best bet is to find a second chance checking bank. These are banks that promise to never refer to Chexsystems when considering your checking account application. That is why their checking account application approval rate is over 99%.

3. Find the right second chance checking bank: Once you have resolved yourself to finding the right second chance checking bank, your next step is to make a list of your bank options. Be sure to find and create a list of at least three second chance checking banks. And, be sure to your homework before selecting the right one for you.

POST COMMENT

Underfloor Heating Systems Linear Systems and the Substitution Method Types of Central Heating Systems All About Hybrid Heating And Cooling Systems Thinktank 4.0 By Groupsystems 4 Advices to Consider When Finding the Correct Burglar Alarm Systems Cold Air Intake Systems The Benefits To Using Central Heating Systems HPS Grow Light Systems Backyard Aquaponic Systems How to Test Horse Racing Systems to Find a Winning Handicapping Method Orbital Welding, Orbital Welding Systems Hydroponics Systems - Points To Consider While Using Rockwool